Find below the PDFs of UPSC notes on the Indian Economy for the Civil Services Exam.

Indian economy/ Economics is part of both the UPSC Prelims Syllabus and the UPSC Mains
Syllabus (GS III). Also, Economics is an optional subject choice in the IAS Mains exam. This
highly relevant and scoring subject often poses a challenge to IAS aspirants, as students find
it hard to make notes balancing both static and dynamic economic topics.

Having a comprehensive list of Economics notes for UPSC can help cover the vast subject in
a timely and effective manner. It can also making notes for the subject and easy task.

Hence, we have provided Indian Economy notes specifically for IAS preparation. These
UPSC notes are made by experienced subject matter experts specifically for the Civil
Services exam. This article will provide you with all relevant Economics notes for both
UPSC prelims and UPSC Mains.

Important Economy Notes for UPSC

Aspirants can find the important Economy notes for UPSC 2022 preparation from the linked
articles given in the table below:

Masala Bonds Emergency Credit Line Enhanced Access Service Difference Between Articles
Guarantee Scheme Excellence (Ease 2.0) Banking
Reforms Index

Negative Yield Bonds Investment Models Strategic Disinvestment Alternative Investment Fund

CAROTAR 2020 Prompt Corrective Additional Tier-1 Bonds Debt-to-GDP Ratio

Action

States Startup Rankings Technical Recession in Agri Market Infrastructure Small Farmers Agribusiness
in India India Fund Consortium
 Online Dispute Asset Reconstruction Startup India Seed Fund KV Kamath Committee on
Resolution in India Company Scheme Loan Restructuring

Union Budget Economic Survey Cashless Economy Exclusive Economic Zone

(EEZ)

Principles of India’s Financial Action Task Fiscal Responsibility Budget Economy Planning in India
Foreign Policy Force Management

Indian Companies Act Electoral Bonds FDI in Retail Census 2011 Facts

National Sample Survey Foreign Exchange Consumer Price Index (CPI) Participatory Notes (P-Notes)
Organisation (NSSO) Management Act
(FEMA)

Wholesale Price Index Special Economic Zone Competition Commission of Foreign Contribution
(WPI) (SEZ) India (CCI) Regulation Act (FCRA)

Environmental Impact Forex Reserves Important Economic Terms OECD

Assessment Related to Union Budget

Reserve Bank of India NEER & REER PDS & TPDS Index of Industrial Production
(RBI) (IIP)

Disinvestment Policy in National Payment International Monetary Fund Demonetisation

India & DIPAM Corporation of India (IMF)
(NPCI)

Goods & Services Tax World Economic Forum Banks Board Bureau (BBB) SARFAESI Act
(GST)

Capital Adequacy Ratio Difference Between NSE Difference Between Primary, Difference Between
(CAR) & BSE Secondary and Tertiary Microeconomics and
Sectors Macroeconomics

UPSC Booklist for Indian Economy

The following books will be useful in making UPSC Economics notes:

 Indian Economy – Ramesh Singh

 The Indian Economy – Sanjiv Verma
  Indian Economy – Mishra and Puri
 Indian Economy – R. Dutt and KPM Sundaram
 Banking – S.B. Gupta
 Dictionary of Economics – Graham Bannock; T.E. Baxter, Ray Rees
 Economic Growth and Development – Mayer and Baldwin
 Economic Survey: Twelve Five Year Plan: New Industrial Policy – Government of India
 Economics – Paul A. Samuelson
 Economics Choice – Koutsweanik
 Growth and Development – M L Jhingan
 International Economics – Bo Soderston
 International Economics – H.G. Mannur or Salvatore
 International Trade – Bo Soderston
 MacroEconomic Analysis – Edward Shapiro

Economy Notes on Topics in News for UPSC

1. Inland Vessels Bill, 2021
2. Global Minimum Corporation Tax (GMCT)
3. FAO Food Price Index (FFPI)
4. White Goods in India
5. Payments Council of India
6. Payments Infrastructure Development Fund Scheme
7. World Economy Outlook Report
8. Socio-Economic Caste Census (SECC)
9. The Silk Road Economic Belt
10. Important Economic Terms for UPSC Exam
11. Economic Contagion
12. National Income and its Accounting
13. Economic Recovery Post Pandemic
14. Economic Empowerment Of STs
15. Universal Service Obligation Fund
16. Economic Empowerment Of Weaker Sections
17. Economic Growth & Development
18. Black Economy
19. Blue Economy
20. Venture Capital (VC)
21. Measurements of National Income
22. Taxation System
23. Union Budget 2021 – 22
24. Interim Budget
25. WTO’s Latest Doha Round
26. Taxation System
27. World Bank Group (WBG)
28. Wholly Owned Subsidiary
29. Willful Defaulting
30. Wholesale Banking
31. Value-Added Tax (VAT)
32. Bitcoin
33. Taxation in India
34. Tax Policy Council & Tax Policy Research Unit
35. Tax Administration Reform Commission (TARC)
36. SWIFT (Society for Worldwide Interbank Financial Telecommunication)
37. Subsidies + Externalities
38. Small Industries Development Bank of India (SIDBI)
39. RBI Grants Licensing for Small Finance Banks
40. Statutory Liquidity Ratio – SLR
41. Six or more anchor banks likely to lead consolidation
42. Startup India Seed Fund Scheme (SISFS)
43. Shared National Credit Program
44. Securities Transaction Tax
45. Serious Fraud Investigation Office (SFIO)
46. Status of PACL Case
47. Journey of GST
48. Line of Credit
49. The Lorenz Curve
50. Minimum Support Price (MSP)
51. Non-Banking Financial Institutions
52. Minimum Alternate Tax (MAT)
53. Insurance Regulatory and Development Authority of India [IRDA]
54. Investment Models
55. Internationalisation of Rupee
56. Interim Budget
57. Inflation Targeting
58. Initial Public Offering
59. Insolvency and Bankruptcy Board of India (IBBI)
60. Inflation
61. Gross Value Added
62. GST Constitutional Amendment cleared
63. Green Finance
64. Import Cover
65. Income Inequality In India
66. India and the WTO
67. Producer Price Index (PPI)
68. Price Deficiency Payment System
69. Gold Monetisation Scheme
70. Fiscal Policy
Indian Economy Notes for UPSC Prelims exam and IAS Mains
Topics PDF

 Demand and Supply  Economics Notes

 Market Equilibrium
 MSP v/s Procurement Price
 Practice questions

 Classification of Markets  Economics Notes

 Government Intervention
 GDP

 National Income  Economics Notes

 Measurement of National Income
 Sectors of Indian Economy
 Economic Growth and Development

 Calculating the Human Development Index (Graphical representation and  Economics Notes
technical explanation)
 Calculating the Inequality-adjusted HDI (Graphical representation and technical
explanation)
 Calculating the Multidimensional Poverty Index (Graphical representation and
technical explanation)
 Calculating the Gender Inequality Index (Graphical representation and technical
explanation)

 Monetary System and Money  Economics Notes

 Money Supply – Types of Money
 Monetary Supply in India
 Reserve Bank of India
 Monetary Policy

 Qualitative Measures

 Quantitative Measures

 Types of Monetary System  Economics Notes

 Financial Institutions and Banking

 Types of Banks in India

 Development Finance Institutions

 Sector Specific important DFIs

 Non-banking Financial Institutions
 Securities
 Forms of Business Organisation

 Evolution of Banking in India  Economics Notes

 Timeline

 Objectives

 Assessment of Nationalisation

 Basel Norms

 How Basel III is different from Basel I and II

 Financial Inclusion  Economics Notes

 Govt Measures to promote Financial Inclusion

 Pre-1991

 Post-1991

 Inclusive Growth v/s Financial Inclusion

 Inflation

 Type of Inflation

 Causes of Inflation

 How to Control Inflation

 Impact of Inflation (Phillips Curve)  Economics Notes

 Constraints faced in controlling Inflation
 Terms related to Inflation – Stagflation, Misery Index etc.
 Measurement of Inflation

 WPI

 CPI

 Taxation in India
 Direct Taxes
 Indirect Taxes
 GST